Unit Trust industry excels

Records high growth:

The Unit Trust industry performed significantly during the fist seven months of this year. Growth and Balanced funds performed remarkably with the stock market boom.

Unit Trust Association of Sri Lanka statistics revealed that all Growth and Balanced funds recorded over 40 percent growth during this period. Growth and Balanced funds invest in the equity market and the boom in the Colombo Stock Exchange (CSE) resulted in this significant growth.

When considering the CSE All Share Price Index (ASPI) which rerecorded a 52.45 percent growth, some funds recorded a over 50 percent growth. Growth funds Ceybank Century Growth, Eagle Growth Fund and NAMAL Growth Fund recorded 61.92 percent, 53.93 percent and 48.95 percent growth during the period. In Balanced funds category Ceybank Unit Trust recorded a 57.72 percent growth while Comtrust Equity Fund reported 41.89 percent growth and National Equity Fund a 40.75 percent growth. Pyramid Unit Trust reported a 47.11 percent growth in the Balanced funds segment.

Listed Equity NAMAL Acuity Value Fund reported a 58.05 percent growth from January to July this year. CEYLON Index Fund also recorded a 30.37 percent growth.

Income funds also showed an over five percent growth during the period. Income funds which invested in fixed income avenues experienced a lower growth rate compared to other categories due to the decline in interest rates.

Money Market funds too recorded an over five percent growth during the first seven months of this year.

Industry expert said there is a significant increase in the number investing in Unit Trust funds. The rural community is also interested in investing in these funds as returns on investment is higher.